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The Willis Report

News/Business. Host Gerri Willis.

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01:00:00

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San Francisco, CA, USA

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Comcast Cable

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Virtual Ch. 130 (Fox Business)

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mpeg2video

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ac3

PIXEL WIDTH
704

PIXEL HEIGHT
480

TOPIC FREQUENCY

United States 9, Europe 8, Us 6, Cypress 5, U.s. 5, Blackberry 3, Spain 3, Italy 3, Eurozone 2, Chicago 2, Lou Dobbs 2, Portugal 2, Cyprus 2, Greece 2, Gerri 2, Orlando 2, Faa 2, Legalzoom 2, Siemens 2, Sheryl 1,
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  FOX Business    The Willis Report    News/Business.  
   Host Gerri Willis.  

    March 22, 2013
    9:00 - 10:00pm EDT  

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or you could buy back the debt, you could approve your balance sheet like ford motor company debt. instead of taking money from the taxpayers like general motors and enhancing the union and all of that. >> the investor wants to look at dividends. so it helps the yield and stock prices. but the companies also, you know, they are too big. when they get involved in small things, they don't know what to do. >> it won't move the needle. there are not a lot of
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large-scale projects of with these companies to get involved in at this point. >> that is bold and creative thinking. >> i was just thinking that. i mean, we have great companies. real innovative companies popping up. that is what i worry about the u.s. economies. where are those bold innovative companies. and i would make another footnote about the buybacks. yes, record numbers since 2009. but that is because the feds are buying back their own shares. they say let them pass the stress test. they really struggle and diluted earnings per share. diluted their capital base with a lot of shares during the crisis. they have basically flooded the market to recapitalize and buying it back.
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the. neil: in cyprus explodes and banks reopened, let's see what happens to the residents of cyprus. people say oh, we are there for you. then you realize that they aren't. have a good weekend >> welcome, i am shibani joshi and four gerri willis. we will tackle the new blackberry. as i don't have anything to worry about? we will discover andalk about that as well. and the faa starts to close air
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traffic control towers. we will tell you how that ca affect your travel plans going into the spring. but first, raising $8.5 billion and euros needed to see the bailout from the european central bank. it has created a solidarity, allowing the government to have power to impose capital controls on the big banks. while worried residents are lining up at atms. joining me now to help me with these developments is leadership for euro pacific capital. let me just start off the bat and ask you, the country has agreed to this solidarity funds.
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but i can't quite tell if this is the solution that the eu wants. could make good on the threat to kick out cypress? >> anything is possible. you know, i think the outrage over this deposit tax is about the honesty of the approach. if youthink about it, citizens around the world suffer from that tax. in the united states, how long have we had 0 #% interest rates in the united states? how much money have savers lost who keep money in the bank because they have not received interest on deposits all these years? what about prices? because the federal reserve does quantitative eang, food rices go up, gas prices up, and deposits lose value. at least with the tax in cypress, it was more honest. the government up front saying we're going to take your money. we're doing it secretly, and i think the honest approach is better.
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shibani: they make parallels in cypress, and what you mentioned happens here in the u.s., but the levy on bank deposits, this is what is causing a storm, and it's really getting people upset. are yoconcerned about any kind of precedence this could bring into the industry into europe and what it could do to banking confidence as a whole because when you start to have runs on banks and runs into atms as we see vis walls of and people concerned about whether or not they get their money, that creates panic. >> yeah, i think, you know, it could be a wakeup call. i own an offshore bank in the caribbean, an our business, since the cypress event, is up about 150, so a lot of people are lookin for safer places to park money because people are starting to think about whether desit insurance is not all that it's marketed to be. the fdia insures 8 trillion in
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deposits, but5 billion in reserves. my bank in the caribbean is a 100% reserve bank,and we don't make any loans. the reason the banks are in trouble because if they made the mistake of loaning money to the greek government. people are looking for banks that d't need deposit insurance because they don't have a risky balance sheet, and i think that'swhy my bank gets popular and i think the same it happening in other banks that have a far more conservative approach to banks because they don't have the deposit insurance. the problem with the deposit insurance is the bank that have it act recklessly and put deposits in jeopardy. my accounts are not insured, therefore, i don't take risks. i think the customers appreciate that more than ever right now. shibani: you know what we talk about here, peter, as well was the con tashes effect. you talked about the biggest problem that was had was it has exposure to greece, but you can say that about italy, spain, portugal, and list basically
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every other european nation out there. what sort of pandora's box could become unfurled if we do see th problems in cypess not resolve itself in a timely and expent manner? >> that is the risk. we have a banking system throughout the world where banks retain a small percentage of the actual deposits, and they rely on this government guarantee to stop the runs because customers are confident that the bank's not going to fail no matter how small because of the government, but if people start to question that, because, remember, thing thes, -- the accounts were nsured, if people think, well, if it happens in cypress, it happens anybody. it's not, you know, it's not what happens in cypress stays in cypress, that is the concern that depositors all around the world, not just in europe, but here in the united statestart to get worries, and they go to the bank to withdrawal their money, and it's a significant
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number of people try to do that, that's the concern. shibani: you worry when you see on the cover of the "wall street journal" another bailout for insert country here in europe. been here, done that before. talk about what could happen -- there has been talk about what could happen in italy with that country imposing a tax on deposits. how likely do you think that something like this could be mimicked over across different parts of europe which we know are still having a very hard time coming up with their own solidarity measures. >> well, i don't think -- i think -- i do think cypress was an extreme example. it's an offshore money haven. tremendous amounts of money on deposit there from all around the world, russia, great britain, and the ban paid higher rates of interest there, higher than in continental europe, even with the haircut. depositors would be ahead of the game, but i think in the other countries, they are going to resort to a more insidious deposit tax, inflation. i think you're going tosee
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money printing all around the world, and that is going to destroy the value of bank deposits. i think savers need to realize that no matter what form it comes, savers are going to be sacrificed on the altar of similar los, and there's a decline in the value of deposits even if you don't lose them. they talked about a 6 or 7%, 10% tax in cypress. i think inflation is going to take much morethan 10% of the purchasing power out of bank accounts all around the world, not just in europe, but here in the united states. i think that's why a lot of savers are pulling their money out of banks, buying stocks, buying real estate. they are buying precious metals because more people reize that if they hold on to the currency and leave it in the bank, it is going to lose a lot of value. shibani: right. talk about the united states and what we did not see tody, peter, was a market reaction to this because there's a belief, well, on the one hand, things are going to get resolvedded in cypress. on the other hand, ware the best of the worst markets that
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are out there. you know, at what point cou that turn on us because that -- that scenario can't survive forever. >> well, we're to the close to being the best of the worst. i think weir -- we might be the worst of the worst. it's just that a lot of people have not figured that out yet. we still have the perception that the u.s. -- shibani: we are growing unlike europe. we are growing up like europe. >> i don't believe we're growing. i don't believe wegrow at all. we are borrowing money and spending it consistenting spending borrowed money as economic growth, but i think if we were more honest about how high the level of inflation is, you know, in order to get our meager economic growth, we assume there's no inflation. if you -- if you don't take the government's numbers at face value, if you assume the inflation rate is not 1.5% a year, but maybe 4% 5%, or 6% a year, we're not growing but contracting.
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we've been in contraction for years making a lot more sense to me, given the huge collapse of the labor pool, you know, i think -- i think it makes a lot more sense that the economy is not growing. all we're doing is spending more money for the things that we buy and so it's a charade, a facade. looks like we're growing, but we're contracting. i think that's going to get worse as time goes on. shibani: fueled by money printing. peter, always great to have you on. thank you very much for joining us today. >> you're welcome. shibani: switching gears and giving lou dobbs a chance of this. if the tiny med trainian island collapses, does it take the entire eurozone with it? i saw you taking notes. i know you want to jump in here, thoughts on what peter said? >> peter, i always enjoy listening to his perspective on the world. he said that cypress, you know, could happen anywhere. he did later acknoowledge it was an extreme example of banking
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and sovergnty gone rong. here's the reality. cypress is now learning that it made serious mistakes. it tried to take the eurozone, the european commission, the international monetary fund and the e. cb to the brink. they play ad like fools. that's how they got in this position. they were reminded of that by the russians who rejected the bailout program. they behaved as i said, foolishly, irresponsibly, and they are paying a price for it with no choice now other than go to brussels with hands out contrite, and say,ou know, you will dictate the futurof the island. a million people behaving as if they could take 500 million people in the european union and slap them, you know, upside the head. it's irresponsible what peter ship had to say, i mean, come on. i mean, i love listening to him because he has such an
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adventurous and imaginative mind. the best of the worst? i can't imagine why peter would want to live in this economy. my, god, why not o off and live over the, you know, put his residence on top of that offshore bank and make sure he manages it well, have a good time. this is an absurdity of the this is -- if anything, right now, the united states, we have a market for which there is a premium for security, and for responsibility, and as -- as we listen to all of these sort of, what i call the neocons of economics, nonsense, the reality is that we're getting better, we're getting stronger. we are solidifying progress, and cypress will be a -- won't even be a footnote a month from now. the european union is asserting leadership and it is coming to its senses about how to build a better future for what's been a very difficult, i me, think of the complexity of what they are
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managing there compared to what we are doing. shibani: absolutely. you can't compare them. there's strength in the dollar, the markets are near all-time highs, and recovery, and there's pockets of the economy. way we still see, you say that cypress may just be a footnote, and -- >> it will be. it will be. shibani: what's not a footnote is the pattern that existed for e last, probably, well, since the crtion of the eurozone, but certainly over the last five years. >> sure, uh-huh. shibani: all of the nations, portugal, ireland, italy, greece, spain onhe brink of collapse, and the eurozone comes to rescue them, and the global markets are hel hostage, and then they get rescued because we know they will, and then here we go again. >> well, you say "here we go again," and we're seeing a continuation of the effort to consolidate the progress that has been made in the european union, and if you look back over the last 30 years of what the europeans achieved, give them
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great credit. when you look at what wee've all achieved whether in europe or in the united states since 207 and 2008, we've come a long way. federal reserve, i mean, you know, what i call the cnbc shorts like, you know, peter ship, they are drumming up business here, not analyzing a situation, a financial or economic crisis. he's trying to drive business to an offshore ank for crying out loud. i'm trying to keep clear this: one, our markets are far more secure than given credit or, and i ensure you investors pay a premium in the market for the security. we're going to see the european union, the 17 finance ministers of the eurozone will meet sunday. they will approve the deal, which will less than we're told, at least, less than 11% con fig accusation. call it what it is, of the deposits, and is it sufficient? certainly not, but it's a
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beginning. there's a a lot better than where we were a week ago. shibani: the markets roll on? >> i think the markets continue strong and move forward. they are stable and growing, and i'm talking about american markets. you know, hallelujah. shibani: we like that and the enthusiasm and the confidence. that's what we need in moments like this. lou dobbs, thank you very muh. >> thank you. shibani: tune into lou dobbs ter this show and every night at 7 and 10 p.m. here here on the fox business network. coming up, lk at the biggest ideas in tech. the big headlines in technology including a new address app that could be a must-have for you. we'll tell you what that is, and blackberry's ceo says apple's iphone is out of date? this is the new blackberry hitting store shelfs today in the united states. will the writers be wrong? we'll debate it. plus, we'll hear from you as well. stay tuned.
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i'm going on break! the more you bundle, the more you save. now, that's progressive. shibani: blackberry larching its first touch screen device today in the united states, the z10. will the release of this device be the turning point for the companyythat is in a lot of nee of a turn around. is it too little too late? joining me is a senior research analyst, and, ramone, great to have you on today for the launch day for blackberry, and the "wall street journal" called this a flop already. the reason is that they didn't see much promotion at at&t stores selling the device, it was in the back of the store, and wh do you think of that?
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>> i think promotion is very key element to getting a new platform out there, and right now, it's just the beginning. granted, there been reports that the blackberry z10 isis pushed to the back of the storement i want them to take the lead in the entire marketing message. you know, come out aggressively, you know, guns ablazing, and show, you know, here, this is the device that is something so diffent out there, and it's better than what you had in the past from blackberry and stands itsown against android and apple. shibani: is that a reality for the company that's an underdog in the z10 phone? i know you had it. i've been able to play with it. i think it's a ood phone. i don't think this is better than any phone that's out there. how can they put the push there when they are not criticizing it, which is an iphone killer. >> it's great. don't be the killer, be the blackberry. i would be looking at this, saying, here, look, we have a
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great device, go after the bread and butter, the enterprise user, go after the consumers and people who don't have these smart phones yet, and when you look at that kind of step mentality to, you know, roll out your device and go after different marketing segments, it's going to be clear, you know, where your pockets of interest will be and how you focus message from that point on. iphone, it's not probably the best way to go just yet. shiban got to be something to somebody,,and the enterprise customer is out there with a lot of choices, andoid, microsoft phones, the iphone at that. i mean, what is black blackberrs strategy here? are they trying to get a foothold and grow the market share, or are they just trying to keep current customers from fleeing to other devices? those are two different strategies. >> absolutely, they are, but, you know, look at i this way. at the end of the 2012, blackberry had 2% market share in the united states based on
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shipments. still that's just 2%. where can it go from here is most lickly up. it is going to reach the samsungs and an droids and apples of the unid states? . they are in double digit territory. you know, this is something that i think enterprise users look at saying, listen, we worked with blackberry 7 for a long time, and, you know what? it's time to move on to something different and more updated -- something to be, you know, reflective of what we want in 2011, not something we used since 2009 and 2010. shibani: all the phones i have, the iphone, my z10, and my regular blackberry i think they made a critical mistake in not getting the phone with the keyboard app. i have a 3-year-old keboard phone and will not give it up. this was a critical, i think, misstep, that the company did not take, and to win over very important customers, but they got time for that. ramone, thank you very much for joining us today, and, of course, we want know what you think because that's what
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matters most. here's the question tonight. which smart phone do you prefer? do you like the blackberry? , iphone, or android phone? log on to gerriwillis.com, and vote on the right-hand side of the screen, and i'll show you the results at the end of the show. more tech results straight ahead, including how your smart phone could replace your wallet. trying to keep your contacts straight on the phone is confusing and dumb beer -- come beer smit, but there's an app for that. we'll talk abut that after the break. ♪ ♪ today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe?
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let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers.
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updati friends' numbers in your phone? a new app does that
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shibani: updates and tracking your smart phon contacts is a hassle a small sthartup is changing that. a new app connects your address book with the friends so you are not stuck facebooking them and bugging them for their new numbers. the ceo of adapt joins me now with the details. great to see you. >> hi, shibani, nice to be here. shibani: hi. off the bat k talk about address apps. they are the hottest apps out there now. there was mailbox, i just got acquired by drop box, adapt, which you launched four months ago is getting a lot of buzz as well. what's the need or problem you
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try to solve with your app? we look at the first social network created before technology and phones and smart phones came through, and, you know, we all took your address, wrote it in a football book. we are saying that that has not adapted sie then. we are trying to make the change. we believe that's the social network. shibani: one of the rcent updates you just launched now thatou talked to us about is a new group feature which i love because what i love to do is use my iphone to send pictures of the kids to 50 different people that i don't like to enter in every single person's nme, and the software doesn't allow that. you bridge the gap with things that apple cn't do and functionality. people really want to have. >> that's right. i mean, we just launched it
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today, and, you know, we are getting excited responses about that. one of the thiigs i struggle with is my parents and inlaws, for example, are not on facebook. they are not on the technology sites, and they just receive e-mails, so what we are doing with the grouping feature now is that we make the app completely independent of any particular platform so anyone who has an e-mail or phone now can receive photos, e-mails, techs, and you can do it in a group very privatety. shibani: you are not on android yet, primarily focused on iphones, and, you know, iphones in general, recently, have taken a lot of heat. they are -- they are -- a lot of comparisons made to the iphone with what's out with the new samsung phone and the new blackberry out today. what's the thoughts as a developer? y did you choose apple for the launch of the new company? >> for us, you know, one was for
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the perspective of the user ourself, and the biggest point was we were struggling with our address book, always stale, very, you know, nreliable if you will, and then we chose apple because s a developer and a small company, it was much easier to build on. it was one hardware form factor, if you will and there was one os. as a small company, it's much, much easier to build it out, test it, and roll out the product to the market. we also hink that we are enabling the entire platform to do better so we are hoping to enhance, you know, the apple products and, hopefully, quickly, down the road, android as well. shibani: how do you make money from this if it's free? >> we hope to add premium features within the app so we, for example, today, provide local time contacts, and, tomorrow, that could be better
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maybe, we would charge for thaa. shibani: got it. thank you, ceo of adapt to clean up and make all of our address books. thank you very much. >> thank you. shibani: when we come back,is now the time to book your summer vacation? it's not even easter yet. we got must-hear travel trips for you, and, next, tech friday continues with a look at the ew way you will be paying for things and why your wallet, well, check that out. it may be useless pretty soon. don't do away.
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shibani: every day we move away from using actual money and using electronic money, and
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there's been an explosion in the number of prepaid anddebit cards out there. everyone is trying to get in on the action. he's under fire for the fees, but he stands by it all. i was with him at the innew project in ohio. take a listen. >> there's 150 million americans who could do better by using this form of banking or this form of money management, and so it depends on who you are, whether it works for you, but it works for a lot of people. people from the banks to this form of banking, this form of money management, and i look at myself as a pioneer in the financial well being business, and i create new ways to make it easier for our consumers all the time. >> there's companies with a lot of money, comeand go out of business, disrupt them for a moment, but if you're
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consistent, you know, when you have a debit card, when you want a call, you want somebody to make a phone up, make sure the service works. if you transfer money two days early, it matters. if you have a prescription discount health care card, it matters. you know? these things matter. we will not sacrifice the quality of the work to lower the margin, but we will continue to build our business in ways that we can afford to lower the margin and still be useful and productive and efficient. shibani: i like that. financial well being company. well, another person i caught up with, she's one of the hottest newcomers this year at the expo,
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and the company's called pay perks, a name you're going to hear a lot more of because starting this month, electronic payments for millions of social security benefits and even unemploynt benefits are going to be connected to pay perks, and as the name suggests, it's a debit rewards card program, and i spoke to the company's founder. take a listen. >> so it's a sweep stakes based rewards program layered on to prepaid debit cards, and it rewards users for spending more on the prepaid card. we insent them to learn about the products and features of the cardthey use, and to use the cards in ways that help save them money, maximize safety, maximize convenience. the other big difference is what the points are worth. a traditional rewards program reward you with miles or points towards a toaster or something like that. on pay perks, it's a sweep stakes. each point is wart the chance to win a cash prize. >> what i find interesting about the model is that for higher
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income individuals, the incentive is to spend more and get more, but for lower and middle income individuals, which is who you target, you are giving them a different incentive system here: why is that impornt right now? >> there's a few reasons. first it social security a perverse incentive to insent somebody not making a lot of money to spend more money on the card. the second is, on prepaid cards, the economics don't support incremental reward schemes so it makes sense for everyone in the value chain to use a sweep stakes model. smit: a big part is education; right? education of using the card in an appropriate fashion. why is that also a key -- a key promise of what you are doing? >> well, we're at an innovation conference, so many innovations and payments in the marketplace. what's challenging is getting consumers to understand the featur and benefits getting them to ado them. that's what pay perks is hre for, educate consumers about what products and features are available for them and get them to use them in ways that benefit, again, the value chain.
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shibani: dozens of companies here, but few run by a female. talk to me about being a woman in this environment, in thi lean in time hat cheryl sandberg talked about, and, you know, just overall what your views are. >> it's not something i think about a lot. with sheryl out now, it is interesting to think about. i think that there's no difference between male and female ceos, and i think it's nice to get attention from a female ceo, but i would rather be recognized as a ceo. shibani: it was on this day in business back in 1894 that the very first stanl cup championship took place. the trough my was awarred to montreal defeati the ottawa generals, and it's passed on every year, and current holders are the l.a. kings. the trophy was named after then governor general of canada, lord stanley presston, and last year, nearly 3 million people in the
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united states tuned in to watch the finals and the average ticket price of the first game was $833, and by game five, the price went up to more than a thousand dollars a ticket. well, it's the oldest trough my competed for by professional at athletes in north america, and it was played today, march 22, 119 years ago. still to come, you know her from "the hills," now debuting her shoe collection right near in this studio, and it may be just the start of spring, but i hate to break it to you, it's already time to start thik about your summer vacation. find out the best time to buy coming up next. coming up next. ♪ the capital one cash rewards card
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♪ shibani: attention travelers, a mandatory budget cuts going on in washington could slam your summer vacation. the faa slashing over 600 million dollarout of its annual budget, freezing hiring, and furloughi some 47,000 employees, and, now, the association says thatyou can expect flight delays of up to 90 minutes at the nation's busiest airports because of it. should you believe the hype, and how should you plan your summer travel plans accordiny? orbitz senior editor joining me now with the details, and let me just ask off the bat, we have all the big scary numbers out there, 90 minute delays, massive delays, headaches going on at security, how big an issue are you thinking about this? are you worried about this as a member of the travel industry? >> no, i think what i've been
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telling tavelers is that as you travel over the holiday period, thanksgiving, christmas, when you travel over the high volume peeferredz to -- periods with these delays and issues in security lines anyway, so if you head to the airport, ma sure that you do the same things that you would do if you're traveling during hese high volume periods. get there two hours for domestic flights, prepare to wait at the airport for awhile. the fact is when you're heading out for a summer vacation, it's hard to tell whether some of these things are because of the sequester or cuts or because they are because of things like weatr delays, and the typical things experienced. the best thing to do as a traveler is be prepared. shibani: ood point. hard to know what is systemic problem and what's a local problem that the plane or airport experiencing. any thoughts about what this could do to summer travel? i mean, are you worried about
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travelers potenally deferring trips or not taking trips because they just don't want to deal with an lready very hassled travel experience? >> i think that people are used to travel hassles at this point regardless of the originment i think people are going to take their summer acations, people realize they need to get out, they need to have vacations with the family, and we see that people are experiencing these kinds of things more than ever before so i don't think this has a major impact on travelers taking vacations. shibani: bring snacks, be parte. when do we book for a ummer vacation? >> well, it depends really op where you want to go, but if you did to the major destinations, places like orlando,las vegas, mexico, seeing most travelers book to, really book now and start looking at your airline tickets and hotel prices, make sure that you have a budget in mind, and if you find something within your budget, book it,
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especially if you travel around some of the higher travel periods like memorial day weekend or the summer, july 4th holidays, these weeks around these holiday periods are when we see some of the highest trav volumes during the summer. shibani: i have not booked spring break, and now i have to think about summer. you gave me things to do this weekend. thank you, see you soon. >> my pleasure. shibani: now you know when to book, pick the destination, and tonight's top five, the top summer destinations based on booking so far on orbitz.com. number five, los angelesings there's a lot to do in the city of angels from biking or shopping on the promenade in santa monica. number four, seattle. surprisingly, it doesn't rain so much there in the summer. you actually see things. there's plenty more scenery to take in there, and there's day trips to portland or vancouver. number three, cancun, mention
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koa. by the time you hit this par dies in the summer, thank goodness, all the spring breakers will be long gone. number two, who can go wrong with las vegas? there's plenty of luxury in the desert oasis or the opportunity to live it up if that's what you're into. we know what happens here stays there. you kkow the rest. the number one top summer destination is? drums, please, orlando. it is thee place for family vacations. you can't beat, of course, walt disney world, especially with the kids out of school. now, if you want more exotic travel destinations, u.s. news and travel says nice, france is the best spot to soak up the sun and country with the best shopping, eating, gambling in the world. i'm sold. di't have to tell me twice. all right, up next, gerri sits down with a shoe and jewelry
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designer for the weekly fashion segment in fashion, balancing being a new mom and successful career woman as well. that's when we come back. ♪ all statio come over to mission a for a final go. this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for pture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. governor of getting it done. you know how to dance... with a deadline. and you...rentrom national. because only national lets you choose any car in the aisle...
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and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. shibani: where spring here, we sit down with a shoe designer and new mom to discuss what's next in f
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♪ shibani: in fashion, shoes for spring. earlier on this week, gerri sat with kristin who recently joined forces with chinese laundry to create her own line of trendy pumps, platform boots, and
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flats, and there for the fashi conscious woman who leads an on the go lifestyle just like her. gerri: great to have you here. >> thank you. gerri: i want viewers to catch up. you had a baby. >> yes, he's 7 months old, the most amazing thing in the entire worldment every day something new and exciting. he's getting close to crawling, doing an army crawl across the floor which is hilarious. it's amazing. gerri: talk about balancing life as a mom with life as a shoe designer. >> you know, it's worked out well. like i said, i do pretty much everything from chicago, which is where we live, and, you know, it's worked out well that jay, during -- he plays football, my feeon say. -- gerri: i think we know that. we'll show a picture. >> yeah, but right now, he's not working, and this is when i had to promote the line. it's worked out well he's at home with the baby while i'm working so our schedules worked
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out. gerri: like you planned it. >> i know. gerri: fantastic. talk about your shoes. you hooked up with chinese laundry. how did that happen? >> well, i actually started doing online fashion blogging for them two years ago, and i was up front saying that i wanted to eventually have my own shoe line, and they gav me the amazing opportunity and had any initial collection out for a few months now, here launching my spring collection. gerri: it's pretty. why shoes? why that? >> gosh, suspect it every girl's dream job to have a shoe line? i have been a huge fan, that's where my passion lie, and you know, i thought it would be fun, and, especially being a new mom, i can do this anywhere, really. i was approving things, and they sent me samples to chicago, and it's been the perfect job. gerri: do you draw them or how does it work? >> i work with the design team, and when i met them, i worked on an inspiration book since i was
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19, tearouts from magazines, fabrics, and those things. from there, i sat with two people, and we, you know, talked about my style, and they got a sense for what i like, and, you know, they kn more of the stuff about what the hot color will be for the fall. you know, they are on the trends. they are open to what i like, and they are very good about listening to me. gerri: a lot of interesting stuff here. i want to talk about it for a second here. you have nudes and neutrals, and you told me before we started it's your favorite things. >> every girl should have, you know, a great pair of nude pumps, heels, and black ones as well, and then, you know, i love a od blue is fun just to have it fun in your closet. i'm more of a new trail girl, more about simplicity. gerri: similar police si, those are not. >> those are not. florals are big in spring, and i thought they were fun to give any outfit a little extra push, a little spice. gerri: look at that. >> yeah. this is a little out of my comfort zone, but it's fun, and, you know, doing a shoe line,
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think about the consumer, not just what you wear. i thought it wass un. gerri: what's the best selling pair? >> the shoe i have on now. it's this little heel with the ankle strap. the ankle strap is huge right now. gerri: like a souped up mary jane. that's your favorite pair. tell me what you get into now? you told me, and i can hardly believe it, they are incredibly comfortable. >> they are. i'm not just saying that. i think it's because heels are not as high as what i'm used to. wedges are so comfortable. boots have a platform in it. you're not just on your toes for the height that you see there. gerri: six or seven inches? really? >> buy and test them out for yourself. [laughter] gerri: look high to me, but they are really, really pretty. >> thank you. gerri: where do you see yourself going with this? >> working on the fall collection. i'm having fun. i have a jewelry line, the
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earrings i have are from that. for me, it's about being affordable. it's important to women to know you don't have to break the bank to feel and look great. the shoes are under 150 and the jewelry under $50. i want to keep doing stuff like that. gerri: good price point. where's your work? >> dillards.com, vonmaur.com. gerri: thank you, i appreciate what you'rdoing. preliminary hearing the time. >> thank you. shibani: that was fun. we'll be right back with the question of the day. what is it, iphone, blackberry, or android? what's your choice phone? we'll reveal your answers. my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love.
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